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iFOREX vs MultiBank 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between iFOREX and MultiBank? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, iFOREX ranks more highly than MultiBank.

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Compare

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Overall Rating iFOREX MultiBank
Overall Rating star 7.0 /10 star 7.5 /10
Offering of Investments star 7.0 /10 star 7.5 /10
Commissions & Fees star 6.0 /10 star 7.5 /10
Platform & Tools star 7.5 /10 star 7.5 /10
Research star 6.5 /10 star 6.5 /10
Mobile Trading star 7.5 /10 star 7.5 /10
Education star 6.0 /10 star 6.5 /10
Account Type iFOREX MultiBank
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Deposit/Withdrawal Options iFOREX MultiBank
Minimum Deposit info $100 $50
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
ACH or SEPA Transfers info No Yes
Copy Trading iFOREX MultiBank
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency iFOREX MultiBank
Cryptocurrency (Physical) info No Yes
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) iFOREX MultiBank
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) iFOREX MultiBank
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments iFOREX MultiBank
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms iFOREX MultiBank
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses iFOREX MultiBank
Tier-1 Licenses info 1 3
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Research, Education iFOREX MultiBank
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info No Yes
Daily Market Commentary info Yes No
Autochartist info No No
Investor Dictionary (Glossary) info No No
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info No No
Trading Costs iFOREX MultiBank
Minimum Deposit info $100 $50
Average Spread EUR/USD - Standard info N/A N/A
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No No
Trading Tools iFOREX MultiBank
Watchlists - Total Fields info 9 7
Mobile Watchlist info No Yes
Charting - Indicators / Studies (Total) info 57 38
Mobile Charting - Indicators / Studies info N/A 30
Trust Factors iFOREX MultiBank
Year Founded info 1996 2005
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Trust Score info 75 84
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iFOREX vs MultiBank Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between iFOREX and MultiBank? Our independent database powered by our unbiased research will help you compare iFOREX vs MultiBank side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust iFOREX?

iFOREX has a Trust Score of 75, giving it a "Average Risk" Trust Score Label.

Can I trust MultiBank?

MultiBank has a Trust Score of 84, giving it a "Trusted" Trust Score Label.

Is iFOREX a good broker?

iFOREX, previously known as Vestle, offers a proprietary trading platform as well as a growing selection of nearly 750 symbols. However, the MetaTrader suite is not available at iFOREX.

Is MultiBank a good broker?

MultiBank offers a solid range of forex and CFD trading services, making it an average choice for traders. With an overall rating that indicates satisfactory performance, it provides a reliable trading experience but may lack some advanced features found in other brokers.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. iFOREX holds regulatory licenses in the following Tier-1 jurisdictions: United Kingdom (U.K.) (FCA Authorised). MultiBank, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and Singapore (MAS Authorised). Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, iFOREX is Cyprus (CySEC Authorised), while MultiBank is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses iFOREX is British Virgin Islands (FSC Authorised), while MultiBank is British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and Mauritius (FSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that iFOREX offers a Proprietary Platform, whereas MultiBank supports a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does iFOREX offer MetaTrader? Does MultiBank offer MetaTrader?

For MetaTrader iFOREX provides neither of these, while MultiBank provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do iFOREX and MultiBank differ in terms of minimum deposit? What about average spreads and funding options?

iFOREX requires a minimum deposit of $100, while MultiBank requires a minimum deposit of $50. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that iFOREX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas MultiBank supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, iFOREX or MultiBank?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that iFOREX delivers a more diverse selection of investment options than MultiBank, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; iFOREX offers 750, and MultiBank offers a total of 1042 tradeable symbols.

Can I trade cryptocurrency with iFOREX or MultiBank?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that iFOREX offers clients access to trading physical cryptocurrencies while MultiBank does not.

Who offers more research tools, iFOREX or MultiBank?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. iFOREX delivers the following research tools: Daily Market Commentary, Stock Charts and Trading Central (Recognia). MultiBank, on the other hand, provides the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

iFOREX Review

MultiBank Review

Overall winner: iFOREX

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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